America Is Losing Its Economy
NOVANEWS
By Dr. Paul Craig Roberts
Global Research
From John Williams proprietary report:
“Subject to Likely Downside Annual Benchmark Revisions this Coming Friday, February Industrial Production Jumped by 1.1% (0.9% Net of Revisions), Reflecting improbable Strength in Manufacturing and Mining.
“Despite this perhaps premature report of industrial production gains, Given a Record 122 Months of Non-Expansion, Manufacturing Still Holds Shy of Its Pre-Recession Peak by 3.7% (-3.7%). [That peak was a decade ago!]
“Manufacturing Gains Likely Reflected Some Inventory Rebuilding Against Weakening Sales, As Disaster-Recovery Bloat Passes from the System.
“Continuing in Nonsensical Monthly Booms and Busts, February Housing Starts Activity Fell by 7.0% (-7.0%), Still Shy by 45.6% (-45.6...